Germany's industrial production up in January

ISTANBUL

Germany’s industrial production increased by 2.7% on a monthly basis and 1.8% on a yearly basis in January, according to official figures released on Tuesday.

Production this January was 3% lower compared with February 2020, the month before COVID-19 restrictions were enforced in Germany, data from the country’s statistical office Destatis showed.

The production of consumer goods rose by 4%, capital goods by 1.2%, and intermediate goods by 0.3%.

“Outside of industry, energy production decreased by 0.1% in January on the previous month and production in construction rose by 10.1%,” read a Destatis update.

“This more than offset the decrease of December 2021 (-4.0% from the previous month). At the same time, production in construction benefitted from the unusually mild weather in January.”​​​​​​​